78th Texas Legislature, Regular Session, House Bill 2308, Chapter 1106 Page: 1 of 5
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CHAPTER 1106 H.B. No. 2308
1 AN ACT
2 relating to the low income housing tax credit program.
3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
4 SECTION 1. Section 2306.6703, Government Code, is amended
5 to read as follows:
6 Sec. 2306.6703. INELIGIBILITY FOR CONSIDERATION. (a) An
7 application is ineligible for consideration under the low income
8 housing tax credit program if:
9 (1) at the time of application or at any time during
10 the two-year period preceding the date the application round
11 begins, the applicant or a related party is or has been:
12 (A) a member of the board; or
13 (B) the director, a deputy director, the director
14 of housing programs, the director of.compliance, the director of
15 underwriting, or the low income housing tax credit program manager
16 employed by the department; [e *]
17 (2) the applicant proposes to replace in less than 15
18 years any private activity bond financing of the development
19 described by the application, unless:
20 (A) the applicant proposes to maintain for a
21 period of 30 years or more 100 percent of the development units
22 supported by [low income] housing tax credits as rent-restricted
23 and exclusively for occupancy by individuals and families earning
24 not more than 50 percent of the area median income, adjusted for
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Texas. Legislature. House of Representatives. 78th Texas Legislature, Regular Session, House Bill 2308, Chapter 1106, legislative document, 2003-05/2003-06; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth158418/m1/1/: accessed May 8, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.